Voyageur 134
The Loonie Is Flirting With 70 Cents, and Ottawa Wants Your ID Before TikTok.
News for residents of the “11th province”: Canadians abroad.
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The Loonie Is Flirting With 70 Cents
The loonie is back around 70 cents US after sliding from about 74 cents in early May.
The Canadian Press says the drop is being pulled by two forces. Canada's economy looks soft, and at the same time, the US dollar is getting a lift from stronger growth, AI investment and expectations that the Fed may keep rates higher than the Bank of Canada.
Anyone who gets paid in US dollars gets a nicer conversion on Canadian bills. Anyone living on CPP, Canadian savings or a Canadian salary abroad gets the… less fun version.
Scotiabank currency strategist Shaun Osborne told CP he sees the loonie rebounding to about 75 cents US later this year if the Fed cuts while the Bank of Canada raises. Watch this space.
Read more: BNN Bloomberg / The Globe and Mail
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A photo from the old country:
Ottawa Wants Your ID Before You TikTok
Ottawa's online-safety push has found a weird privacy knot. Bill C-34 would keep Canadians under 16 off social media, but enforcing that means platforms may need adults to prove they are, well, adult.
That could mean facial age scans, government ID uploads or other age checks, depending on rules still to come. The Globe and Mail writes that Canada wants TikTok to collect less data on kids while also pushing platforms to collect proof of age from everyone else.
It’s a little rich, as five days after introducing C-34, Ottawa tabled Bill C-36, its new privacy bill, promising stronger control over personal data, deletion rights and tougher children's-data rules.
Canadians abroad already often get hamstrung by identity checks for banks, telecoms and government services. Social platforms joining that club would make Canadian digital life feel more like a border crossing.
Read more: The Globe and Mail / Government of Canada